News: After firing 50% Twitter staff, Elon Musk to kick out more employees soon

Strategic HR

After firing 50% Twitter staff, Elon Musk to kick out more employees soon

The mass layoff at Twitter began in 2022 after Elon Musk’s takeover. The company's workforce was reduced to roughly 3500 down from 7500 employees since then.
After firing 50% Twitter staff, Elon Musk to kick out more employees soon

Last year, Twitter remained the talk of the town for countless reasons. From Elon Musk’s takeover to firing almost half of the Twitter workforce, we know the company underwent some drastic changes. Only when we thought we saw enough, the micro-blogging site is gearing up another round of layoffs. 

If media reports are to be believed, the layoff will happen in the coming weeks, and employees from the product division and some other departments will be impacted. 

The step is being taken to reduce expenses. In the midst of an economic crunch, Musk has not paid rent to the landlords of several Twitter offices. The cash-strapped Twitter also asked its staff in Singapore to empty out their desks and work from home.

The mass firing began in late October following the millionaire’s formal takeover. The company's workforce was reduced to roughly 3500 down from 7500 employees. 

While most were sacked, some other employees left voluntarily as they did not want to confine themselves to Musk's "hardcore" work style. The latest round of firing would reduce the headcount to below 2000, according to a report by India Today.

Twitter also found a unique way to earn some extra cash. The company was seen selling quirky office items such as furniture, PCs, kitchenware, and Twitter memorabilia such as the Twitter bird logo and more. 

Other than Twitter, some of the major companies that have kicked out their employees in 2023 are Credit Suisse, ShareChat, Dunzo, Vodafone, BlackRock, Coinbase, Amazon, Salesforce, Morgan Stanley, McDonald's, Goldman Sachs, and others.

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Topics: Strategic HR, #Layoffs

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